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Tim Hortons, Burger King deal takes another step forward

Next step: approval from shareholders at a special meeting on Dec. 9.

December 5, 2014

Tim Hortons Inc. and Burger King Worldwide Inc. have confirmed that the proposed merger deal between the two brands has been approved by the Minister of Industry under the Investment Canada Act.

Tim Hortons and Burger King Worldwide also confirmed that the transaction has received regulatory clearance under the Hart-Scott-Rodino Act (USA), the Competition Act (Canada) and the Canada Transportation Act.  The transaction remains subject to other customary closing conditions, including, among other things, approval of the Tim Hortons shareholders and the approval and issuance of a final order of the Ontario Superior Court of Justice. 

The new company will have approximately $23 billion in system sales, more than 18,000 restaurants in 100 countries. Following closing of the transaction, each brand will continue to be managed independently and maintain its respective headquarters.

Tim Hortons shareholders will vote on the deal at a special meeting scheduled for Dec. 9.